What's Going On With Apollo Global Management Stock?

Vaishali Prayag

November 20, 2024

Apollo Global Management Inc. (NYSE:APO) shares traded lower on Wednesday following reports suggesting President-elect Donald Trump is considering Apollo CEO Marc Rowan for the role of Treasury Secretary. Here’s what you need to know.

What To Know: According to Financial Times, Rowan, a private equity billionaire, is a top contender for the position and is scheduled to meet with Trump in Florida to discuss the role.

The Apollo CEO is reportedly being supported by several Wall Street figures who cite his extensive experience in financial markets. However, competition for the Treasury Secretary role remains strong, with hedge fund investor Scott Bessent and former Federal Reserve governor Kevin Warsh also under consideration.

Apollo Global Management oversees more than $700 billion in assets under management. A transition to a government role for Rowan could pose operational challenges for the company, but is reportedly considered manageable by Apollo insiders. The news has created uncertainty among investors, which turned into a selloff on Wednesday.

No official comments have been made by Apollo Global Management regarding Rowan's potential selection.

APO Price Action: Apollo shares closed Wednesday down 3.2% at $162.87, according to Benzinga Pro.

Read Next:

Here’s How Much $100 Invested In Cardano Today Could Be Worth If ADA Hits New All-Time Highs

Photo by solarseven on Shutterstock.

Recommended

Trump's Win Could Signal Economic Change -- Are You Ready? - Ad

Elon Musk: "AI Will Run Out of Electricity ... in 2025" - Ad

Bill Gates' Mysterious New AI Project Revealed - Ad

NEW YORK (AP) — When John Jobbagy’s grandfather immigrated from Budapest in 1900, he joined a throng of European butchers chopping up and shipping off meat in a loud, smelly corner of Manhattan that New Yorkers called the Meatpacking District.

What's Driving Small-Cap Success For iShares Russell 2000 ETF (IWM) In November?

U.S. small-cap stocks have delivered an exceptional performance this November. The iShares Russell 2000 ETF has climbed 8.5% in November.

Why Trump's Victory Could Fuel the Next AI Surge

Why Trump's Victory Could Fuel the Next AI Surge - Ad

Louis Navellier, tech investor and market veteran, believes Trump's return will drive a second AI boom. Get the top six stocks he recommends before they skyrocket.

One Tech Tip: Replacing passwords with passkeys for an easier login experience

LONDON (AP) — If you're tired of memorizing passwords, then give passkeys a try.

SpaceX To Launch Tender Offer, Valuing Company At Over $250 Billion: Report

SpaceX, under the leadership of Elon Musk, is reportedly preparing to initiate a tender offer next month.

24/7 Automated Profits in Crypto

24/7 Automated Profits in Crypto - Ad

All key indicators are flashing the same signal: an altcoin season is fast approaching. Access this exclusive workshop for early access to their next set of altcoin picks, a step-by-step blueprint for finding the next big altcoin winners, and a sneak peak at their crypto trading system with a 90% win rate.

Man who stole and laundered roughly $1B in bitcoin is sentenced to 5 years in prison

WASHINGTON (AP) — A computer expert who stole worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — was sentenced on Thursday to five years in prison.

Ted Cruz Says Running DOGE Won't Be A Cake Walk, Offers Reading Advice To Elon Musk

Senator Ted Cruz (R-Texas) anticipated the newly established Department of Government Efficiency (DOGE) department to yield “good results” but warned that Elon Musk and Vivek Ramaswamy would have their work cut out.

Trump's Win Marks a New Era for AI Stocks

Trump's Win Marks a New Era for AI Stocks - Ad

With Donald Trump back in the Oval Office, Louis Navellier says the next wave of AI winners is already taking shape. Discover which stocks could benefit from his first moves.

Alaska political leaders hope to see Trump undo restrictions on oil drilling

JUNEAU, Alaska (AP) — President-elect Donald Trump during his campaign to expand oil drilling in the U.S., which is good news for political leaders in Alaska, where oil is the economic lifeblood and many felt the Biden administration has obstructed efforts to boost the state's diminished production.

Rocket Lab CEO Touts SpaceX Rival Status, Trump Impact On Space As Stock Surges Almost 30%

Rocket Lab USA Inc's stock surged nearly 30% in trading on Wednesday following strong third-quarter results, with CEO Peter Beck highlighting the company's expanding presence across multiple space sectors during an interview.

How Musk & Trump Could Launch These Stocks Higher

How Musk & Trump Could Launch These Stocks Higher - Ad

Tesla (TSLA) stock has surged. But the real opportunity? Musk's AI venture, xAI. With Trump's presidency, xAI could soon lead the AI race, backed by strong government connections and fewer regulatory barriers. This powerhouse collaboration could fuel massive growth in the AI sector, and xAI may become Elon's biggest company yet.

Trump's treasury pick could give an indication of what he plans to do about tariffs

WASHINGTON (AP) — President-elect Donald Trump’s decision on a treasury secretary is about far more than whose name will be printed on America’s money.

Astros ballpark to be renamed Daikin Park from Minute Maid Park on Jan. 1

HOUSTON (AP) — The Houston Astros' home will get a new name on Jan. 1, becoming Daikin Park under an agreement through the 2039 season the team announced Monday.

Our No. 1 Defense Stock to Own Right Now

Our No. 1 Defense Stock to Own Right Now - Ad

In multiple wargames, U.S. forces were overwhelmed and unable to stop Chinese amphibious assaults from seizing the island. With tensions at a boiling point, the economic fallout could be devastating. Get the details on the weapons makers set to boom if war breaks out.

Kissing the ring? MSNBC 'Morning Joe' hosts say they met with Trump to reopen lines of communication

MSNBC hosts Joe Scarborough and Mika Brzezinski, fierce critics of President-Elect Donald Trump, say they traveled to Mar-a-Lago for a meeting with him to reopen lines of communication that would better serve their morning show viewers.

Ben & Jerry's lawsuit accuses parent company of censorship over Gaza

Ben & Jerry’s has sued its parent company Unilever accusing it of silencing the ice cream maker from making statements in support of Palestinians in the Gaza war.

The Dark Truth About AI Stocks

The Dark Truth About AI Stocks - Ad

All the signs show the AI market is about to reverse. And unless you know what's really going on in this sector, you could be wiped out. Inside this new expose, you'll discover exactly how the AI crisis will unfold... how you can prepare for it before it's too late... and how you can potentially profit from it, too.

World Bank Worries Over Budget Cuts After $24B Mishap, Trump Win

In light of President-elect Donald Trump's commitment to trim US government expenditure, the World Bank, currently under investigation for the misplacement of $24 billion in climate funds, is bracing for substantial budget reductions.

WHO Calls Vaccines 'Absolutely Critical' As Trump's Appointment Of RFK Jr Pulls Pzifer, Moderna Stocks Downhill

Trump's decision to appoint Kennedy, known for his vaccine skepticism, has sparked significant attention.

Single Stock Blueprint Available Now

Single Stock Blueprint Available Now - Ad

Market Wizard Larry Benedict is one of the most successful traders you'll ever meet...But he doesn't make money the traditional way. In short: It's a way to trade just one stock...And potentially make all the money you need to fast-track your retirement -- no matter what happens in the stock market.

Warner Bros. Discovery NBA Deal 'Best Case Scenario': Analyst Says Renewal Structure Could Boost Annual Profit

Warner Bros. Discovery reaching a deal with the NBA that includes some international rights and licensing of "Inside the NBA" could be a win.

Regulators approve North Dakota section of planned 5-state Midwest carbon dioxide pipeline

BISMARCK, N.D. (AP) — North Dakota utility regulators granted approval on Friday for a span of a that would cross five Midwestern states — a key victory for the company that has faced vociferous and various hurdles and setbacks in its plans.

Buffett, Bloomberg, & 48 Congress Members Are Buying 1 Sector

Buffett, Bloomberg, & 48 Congress Members Are Buying 1 Sector - Ad

Why are Warren Buffett, Jeff Bezos, Michael Bloomberg, "The Walmart Family", Bill Gates, and 48 members of Congress shifting their stocks in a frenzy? And why are they all piling into ONE unique corner of the market... The last time we saw the world's wealthiest investors move their cash into this corner of the market, Stocks exploded 2,020%, 5,609% Even as high as 8,437% in just ONE year. Now, it's all happening again.

Mississippi Gulf Coast restaurant and its co-owner are sentenced for mislabeling seafood

GULFPORT, Miss. (AP) — A Mississippi Gulf Coast restaurant and its co-owner it were sentenced Monday on federal charges of as local premium fish.

Stock market today: Asian shares mostly slip despite Nvidia's solid earnings report

TOKYO (AP) — Asian shares were mostly lower on Thursday after a mixed close on Wall Street, with regional markets shrugging off a strong profit report from Nvidia that was released after U.S. markets closed.

What Does Trump's Presidency Mean for Elon Musk's AI Venture?

What Does Trump's Presidency Mean for Elon Musk's AI Venture? - Ad

As new allies, Trump and Musk could reshape America's AI future. Elon Musk's AI startup, xAI, might gain the edge it needs to dominate the industry. A shift in government support, fewer barriers, and a potential "backdoor" into the AI race are just the beginning. Is xAI set to become Elon's most powerful venture yet?

This Cannabis Software Co. Secured $6M In A Tight Investment Market, Here's How

Cannabis Software Co. raises $6 million in Series A funding to expand its ERP platform, via Poseidon Investment Management

Norfolk Southern makes deal with investors to prevent another fight for control of the railroad

Norfolk Southern announced an agreement Thursday with Ancora Holdings to keep the investor from launching a repeat of this year's campaign to take control of the railroad.

Wall Street Legend Issues Inauguration Buy Alert

Wall Street Legend Issues Inauguration Buy Alert - Ad

If you've underperformed this raging bull market, if you've lost money or missed out... this is your final chance to potentially profit.

Chipotle Rival CAVA Surges Over 17% As Q3 Earnings Beat Expectations And Full-Year Outlook Improves

The fast-casual chain, known for its Mediterranean-inspired cuisine, reported earnings of 15 cents per share, surpassing the analyst consensus of 11 cents.

General Motors lays off about 1,000 workers, cutting costs to compete in a crowded automobile market

DETROIT (AP) — General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.

Porter Stansberry Warns: Nvidia Shares Could Drop By 50%

Porter Stansberry Warns: Nvidia Shares Could Drop By 50% - Ad

It happened in 2000... it happened in 2008... it happened in 2021... and now... the great NVIDIA collapse of 2024 is coming. In this new exposé, Porter Stansberry reveals why the tech giant is poised to topple...

What to know about Chris Wright, Trump's choice to run the Energy Department

WASHINGTON (AP) — Fossil fuel executive Chris Wright, Donald Trump's choice for Energy secretary, is a strong supporter of , including fracking, a key pillar of the president-elect’s quest for U.S. “energy dominance” in the global market.

The U.S. Cannabis Strategy No One's Talking About: Inside Canopy's $300M Plan

Canopy USA offers investors exposure to the U.S. cannabis market without direct regulatory risk through brands like Wana and Jetty.

Forget Nvidia, Apple, Tesla, and Google

Forget Nvidia, Apple, Tesla, and Google - Ad

Market Wizard Larry Benedict: "Forget 99% of stocks: It's possible to make all the money you need for a happy retirement with just this one."

Trump Won't Ask Haley Or Pompeo To Join New Administration

Donald Trump has announced that neither former Nikki Haley nor Mike Pompeo will be included in his new administration.

Cutting in line? American Airlines' new boarding tech might stop you at now over 100 airports

NEW YORK (AP) — Sneaking a little ahead of line to get on that plane faster? American Airlines .

The Next Wave of Tech Is Beyond AI

The Next Wave of Tech Is Beyond AI - Ad

Big Tech is currently making a series of peculiar investments in a few strange companies. In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI. Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution. Their stocks just may be the key to AI 2.0.

This week: housing starts, home sales, consumer sentiment

A look at some of the key business events and economic indicators upcoming this week.

Trending Now

Gita Gopinath Of IMF Alarmed By Crypto And AI Energy Use, Says Share Expected To Match Japan's Current Power Consumption In Just 3 Years

Trump Dance Takes Over Sports Celebrations: Move Over Griddy, Gronk Spike, Athletes Are Paying Tribute (Or Poking Fun) At President-Elect

24/7 Automated Profits in Crypto - Ad

US Stocks Likely To Open In Red Amid Mounting Geopolitical Tensions: Wharton Economist Says Market Trajectory Will 'Heavily Depend' On Trump's Tariff Plans